Property Markets / Transactions

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Charter Hall and Frasers have purchased industrial sites in Melbourne and Sydney, reflecting the expansion of the property groups’ industrial and logistics arms.

The wholesale Charter Hall Prime Industrial Fund has bought a 58ha site in Melbourne’s prime Laverton and Truganina industrial precinct, where it will develop a $330 million estate. The site is zoned for large warehouse facilities.

Singaporean investors Frasers bought a site at 442-540 Doherty’s Road, Truganina, which sits near major infrastructure and roads, for $55.35m.
It was marketed by JLL’s Matt Ellis.

Charter Hall The group’s head of industrial development Andrew Simons told The Australian that the property would give the fund exposure to a premier precinct near the country’s largest port, allowing it to chase 50,000sq m-plus pre-commitments.

Mr Simons said the group had recently bought a 6.5ha Eastern Creek site in Sydney, lifting its industrial development pipeline to $2 billion.

Frasers has bought two prime industrial sites in Sydney’s west, including one on Burley Road in Horsley Park, which is more than 10 ha, as well as a 3.5ha site on Eastern Creek Drive from Jacfin Pty Ltd, for a combined total of $75 million.

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